ASX CHESS system hit by outage
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The news: The ASX clearing house system CHESS has been hit with an outage which is delaying its batch settlement.
The context: In a notice on its system status page, the ASX said demand and registry transaction processing has been put on hold.
“Trades from AMOs are being received and MT164 are continuing to be disseminated to clearing participants. However demand and registry transaction processing have been put on hold. No DvP settlements have yet occurred due the CHESS batch settlement delay,” it said.
“ASX is making every effort to identify the root cause and will share any developments as soon as they are made available.”
The ASX’s CHESS system has been under fire as its replacement program has been hit by delays and a failed experiment with blockchain.
In August, the corporate regulator commenced legal action against the ASX over alleged misleading statements linked to its CHESS replacement program’s schedule.
What they said: "We are focused on resolving an issue that is causing a delay to settlement processes for Friday. We are continuing to receive new trades from market operators and the clearing process is operating as normal," an ASX spokesperson told Capital Brief.
"We will continue to share updates on our systems status page available on the ASX website and every effort is being made to resolve the issue by the end of today.
"ASX is aware of the significant impact that the delay has caused for Participants, Payment Providers and Registries and will provide a further update at 4:30pm."
The source: ASX
